Gold futures slide 0.38% on weak global cues

Amid a weak trend overseas and muted demand at domestic spot market, gold prices declined by 0.38 per cent to Rs 25,232 per gen grams in futures trade today.

At the Multi Commodity Exchange, gold for delivery in far-month April fell by Rs 96, or 0.38 per cent to Rs 25,232 per ten grams in business turnover of 113 lots.

Likewise, the metal for delivery in February contracts traded lower by Rs 76, or 0.30 per cent to Rs 25,136 per ten grams in 3705 lots.

Analysts attributed the weakness in gold futures to a weak global trend and slackened demand at domestic physical markets.
 

Meanwhile, gold lost 0.4 per cent to USD 1,071.72 an ounce in London.